The Zhongguancun World Maker Town has become a habitat for more than 300 startups since its inception earlier this year, Beijing News reported on Sept 14.
The town connecting to the center of Zhongguancun Science Park has endeavored to build a good atmosphere by offering attractive policies to worldwide entrepreneurs.
The town has realized the transformation from "co-working" to "co-working + living", allowing startup teams to live and work in the same place in a bid to ease the pressures of expensive accommodation, commercial rental costs and high commute times.
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Flats in Zhongguancun World Maker Town are equipped with kitchens, bathrooms and other furnishings. [Photo by Tao Ran/bjnews.com.cn] |
The town has constructed the country's first public rental service specially catered to startups, offering a total of 2,772 furnished flats and 22,800 square meters of office spaces. The occupancy rate of the rental housing reached 70 percent this September.
The local government will offer a 50 percent rent subsidy to workers in the town, according to Li Peng, an entrepreneur and resident in the town.
"Companies must have been registered for no more than five years and have no properties in Beijing. They should also pass a review conducted by 100 expats before qualifying to rent in the town," said Hu Kun, chief executive at Zhongguancun Maker Town Technology Co.
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Offices in Zhongguancun World Maker Town are designed for startups. [Photo provided to chinadaily.com.cn] |
Some 65 percent of entrepreneurs entering the town are under 30, and startups there mostly specialize in internet services, artificial intelligence, healthcare and online education.
According an official from the Beijing Municipal Commission of Housing and Urban-Rural Development, the design of the town's 250,000-square-meter second phase is now underway. Construction will begin later this year or early next year.
Additional institutions such as kindergartens, canteens, gyms and nursery services are provided in the park to address entrepreneurs' family considerations.
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Zhongguancun World Maker Town. [Photo by Tao Ran/bjnews.com.cn] |
Edited by Zachary Dye
